The following changes are included in this release effective October 1, 2022:

• Alabama changed its interest rate from 5.0% to 6.0% for both underpayments and overpayments.
• Arizona changed its interest rate from 5.0% to 6.0% for both underpayments and overpayments.
• Federal (IRS) changed its interest rate from 5.0% to 6.0% for underpayments and from 4.0% to 5.0% for overpayments.
• New Mexico changed its interest rate from 5.0% to 6.0% for both underpayments and overpayments.
• New York City changed its interest rate from 9.0% to 10.0% for underpayments and from 4.0% to 5.0% for overpayments.
• New York State changed its interest rate from 9.0% to 10.0% for underpayments and from 4.0% to 5.0% for overpayments.
• South Carolina changed its interest rate from 5.0% to 6.0% for underpayments and from 2.0% to 3.0% for overpayments.
• Virginia changed its interest rate from 7.0% to 8.0% for both underpayments and overpayments.

The following changes are included in this release effective January 1, 2023:

• Colorado will change its interest rate from 6.0% to 8.0% for both underpayments and overpayments.
• Idaho will change its interest rate from 3.0% to 5.0% for both underpayments and overpayments.
• Maryland will change its interest rate from 9.5% to 9.0% for both underpayments and overpayments.
• Maine will change its interest rate from 5.0% to 7.0% for both underpayments and overpayments.
• New Hampshire will change its interest rate from 5.0% to 7.0% for underpayments and from 2.0% to 4.0% for overpayments.
• Ohio will change interest interest rate from 3.0% to 5.0% for both underpayments and overpayments.

Note: Inquiries have been sent to the appropriate tax departments for Massachusetts and Missouri, but as of September 30, 2022, no response has been received.